Newsquawk Daily European Equity Opening News - 12th April 2024

12th April 2024

ASIA

APAC stocks traded mixed despite the gains on Wall St where softer-than-expected PPI eased some inflationary fears, while participants in the region were also cautious as they awaited the latest Chinese trade data. ASX 200 marginally declined as weakness in consumer-related sectors overshadowed the gains in gold miners. Nikkei 225 was underpinned on the back of a weaker currency and despite the selling pressure in Fast Retailing. Hang Seng and Shanghai Comp. were somewhat varied with underperformance in Hong Kong amid broad selling after the local benchmark index pulled back from the 17,000 level, while the mainland struggled for direction leading into the Chinese trade data.

EUROPEAN CLOSES

CLOSES: DAX: -0.70% at 18,097.00, CAC 40: -0.13% at 7,977.00, FTSE 100: -0.45% at 7,907.00, Euro Stoxx 50: -0.55% at 4,886.00, FTSE MIB: -0.91% at 32,890.00, SMI: -0.14% at 11,328.50, IBEX 35: -1.14% at 10,594.00

SECTORS: Healthcare 0.49%, Utilities 0.46%, Consumer Stpl 0.05%, Energy -0.30%, IT -0.32%, Materials -0.35%, Industrials -0.35%, Consumer Disc -0.37%, Telecoms -1.51%, Financials -1.57%

FTSE 100

AstraZeneca (AZN LN) - All resolutions were supported at Thursday's AGM. 64.3% votes were cast for a resolution to approve the director's remuneration pay of as much as USD 23.7mln. (Newswires)

BP (BP/ LN) - UAE's ADNOC recently eyed BP as a takeover target, according to Reuters sources; interests didn't progress beyond preliminary discussions. BP is not right for ADNOC's strategy, according to sources. Political considerations also weighed on deal evaluation, according to sources. ADNOC and BP declined to comment. (Newswires) In an immediate reaction, BP ADR (BP) rose from 39.25 to 39.49, before paring the majority of the move.

OTHER UK COMPANIES

BROKER MOVES

DAX

Bayer (BAYN GY) - Co. and Hologic collaborating to deliver contrast-enhanced mammography. (Newswires)

RWE (RWE GY) - Issues first green bond, making a significant step into US debt financing. Plans to issue 3-3.5bln of bonds per year on average through to 2030 in both EUR and USD. (Newswires)

OTHER GERMAN COMPANIES

Fraport (FRA GY) - In March 4.6mln passengers travelled via Fraport, +7.8% Y/Y. Cargo volumes +6.3% Y/Y. (Newswires)

Thyssenkrupp (TKA GY) - Steel board to reduce Duisburg production capacity from 11.5mln tons to around 9-9.5mln tons per year; a significant reduction of production capacity, which will also involve job cuts. (Newswires)

BROKER MOVES

CAC

Schneider Electric (SU FP) - Co. announced a partnership with Digital Power Optimisation to develop wind-powered modular AI data centres. (Newswires)

OTHER FRENCH COMPANIES

Getlink (GET FP) - Co. announced the acquisition of British customs Channelports. (Newswires)

Valeo (FR FP) - Has begun construction of driving assistance systems in Shanghai and will achieve mass production in H1'25. (Newswires)

BROKER MOVES

PAN EUROPE

Stellantis (STLAM IM/STLAP FP) - Italy's industry minister criticised the Co. for producing its first full EV abroad, saying its decision violated Italian law. (Newswires)

Telecom Italia (TIT IM) - Activist investor Bluebell Capital is proposing an ex-Google exec for the role of CEO of Telecom Italia. (Newswires)

UniCredit (UCG IM) - Co. said that the ECB has authorised a EUR 3.085bln share buyback. (Newswires)

BROKER MOVES

SMI

Holcim (HOLN SW) - Proposed a dividend of CHF 2.8/shr, +12%. Also proposes Jan Jenisch for re-election as chairman. (Newswires)

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Skanska (SKAB SS) - Announced decreased scope for a facility in the US, worth USD 49mln. (Newswires)

Volvo AB (VOLVB SS) - Is to increase North American heavy truck production capacity; to be operational in 2026. (Newswires)

BROKER MOVES

US

CLOSES: SPX +0.74% at 5,199, NDX +1.65% at 18,307, DJI -0.01% at 38,459, RUT +0.70% at 2,042.

SECTORS: Technology +2.36%, Communication Services +1.14%, Consumer Discretionary +0.94%, Industrials +0.11%, Real Estate +0.03%, Materials -0.1%, Energy -0.2%, Utilities -0.21%, Consumer Staples -0.28%, Health -0.49%, Financials -0.58%.

Apple (AAPL) - Plans to revamp entire Mac line with AI-focused M4 chips, according to Bloomberg; M4 Macs designed to bring AI capabilities and boost memory. (Newswires)

Southwest Airlines (LUV) - Expects to receive roughly 20 jets from Boeing in 2024 vs prev. estimate of 46, according to sources. (Newswires)

Morgan Stanley (MS) - Multiple federal regulators are probing Morgan Stanley (MS) over how it vets clients who are at risk of laundering money through the bank’s sprawling wealth-management division, via WSJ

Microsoft (MSFT) - US cyber agency says theft of emails between officials and Microsoft (MSFT) poses unacceptable risk.

12 Apr 2024 - 06:49- EquitiesData- Source: Newsquawk